Monday, March 23, 2009

Obama highlights need for more clean-energy funding

Posted by: Stephanie King
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President Obama turned his attention to the need for more clean-energy funding Monday, arguing that an expanded investment is needed to lay the foundation for long-term economic growth, cut dependence on foreign oil and slow the process of global warming.

President Obama speaks Monday on investments in clean energy.

Obama, speaking to a group of renewable-energy company owners and investors, said the country has "known the right choice for a generation (and that) the time has come to make that choice."

In the years ahead, the United States "can remain the world's leading importer of foreign oil, or we can become the world's leading exporter of renewable energy," Obama argued.

"We can allow climate change to wreak unnatural havoc, or we can create jobs preventing its worse effects. We can hand over the jobs of the 21st century to our competitors, or we can create those jobs right here in America."

He met with the owners and investors in the Eisenhower Executive Office Building adjacent to the White House.

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The recently passed $787 billion economic stimulus plan includes $59 billion in new clean-energy tax breaks, part of "the largest investment in basic research funding in American history," according to Obama.

The tax breaks, he claimed, will help create 300,000 new jobs and double the supply of renewable energy.

Obama also highlighted a proposed allocation of $150 billion over 10 years in new

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